January 2012 - Home Sales Up Again

Existing-home sales rose in January for the third time in the past four months, according to a release from the National Association of Realtors (NAR), and inventory also fell the same month. Total existing-home sales increased 4.3 percent compared to the previous month of December and 0.7 percent compared a year ago in January 2011. Total housing inventory at the end of January fell 0.4 percent compared to the previous month and 20.6 percent compared to a year ago.